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Deposits
12 Months Ended
Dec. 31, 2016
Banking and Thrift [Abstract]  
Deposits
13. DEPOSITS

The composition of deposits is summarized below.

 

    As of December 31,  
    2016     2015  
    (Dollars in thousands)  

Noninterest-bearing deposits

    $ 3,673,541          58.2%         $ 3,250,174         54.9%    

Interest-bearing deposits

       

Investment checking

    407,058          6.5%         367,253         6.2%    

Money market

    1,504,021          23.8%         1,293,210         21.9%    

Savings

    342,236          5.4%         296,135         5.0%    

Time deposits

    382,824          6.1%         710,488         12.0%    
 

 

 

   

 

 

   

 

 

   

 

 

 

Total deposits

    $   6,309,680              100.0%         $     5,917,260             100.0%    
 

 

 

   

 

 

   

 

 

   

 

 

 

Time deposits with balances of $250,000 or more amounted to approximately $104.7 million and $418.0 million at December 31, 2016 and 2015, respectively. Interest expense on such deposits amounted to approximately $444,000, $787,000 and $667,000, for the years ended December 31, 2016, 2015 and 2014, respectively. Certificates of deposit totaling approximately $280.1 million from a single public depositor matured in 2016 and were not renewed.

At December 31, 2016, the scheduled maturities of time certificates of deposit are as follows.

 

     December 31, 2016  

Year of maturity:

   (Dollars in thousands)  

2017

     $ 354,509     

2018

     8,711     

2019

     5,720     

2020

     4,499     

2021 and thereafter

     9,385     
  

 

 

 

Total

     $                 382,824